Litecoin #LTCUSD - paradigm shift, more drops ahead
The change in the paradigm in the Litecoin cryptocurrency is dictated by the invalidation of the long-term impulsive scenario, according to which I made analysis at smaller time intervals.
Due to the overlap of many fundamental factors and the breaking of rules and guidelines subject to the Elliott wave theory (only three growth waves instead of five and a long-term downward correction cycle).
So what is left? Well, the best scenario currently is the ABC type meter, which indicates the end of a complex wave cycle in the wave A (from the peak at $ 421) at a level of approximately $ 34.71. The last inheritance wave-wave C was used to complete this cycle.
Due to the overlap of many fundamental factors and the breaking of rules and guidelines subject to the Elliott wave theory (only three growth waves instead of five and a long-term downward correction cycle).
So what is left? Well, the best scenario currently is the ABC type meter, which indicates the end of a complex wave cycle in the wave A (from the peak at $ 421) at a level of approximately $ 34.71. The last inheritance wave-wave C was used to complete this cycle.
Commentaire:
The wave C had completed sooner than anticipated at the level of 99.00. Since then we got a three wave breakout above the golden trend line with a temporary high at the level of 219. This might be the wave A top, so now it is a time for wave B internal correction. The target level is 175 fo wave B low and then another rally higher.
